The Lagos State Government has reaffirmed its commitment to rolling out flexible rent payment models, including monthly, quarterly, and annual options—capping rent advance at one year.
EpeInsights gathered that a stakeholder dialogue with the leadership of the Estate, Rent, and Commission Agents Association of Nigeria (ERCAN), Commissioner for Housing, Hon. Moruf Akinderu-Fatai, and the Special Adviser to the Governor on Housing, Barr. Barakat Odunuga-Bakare, emphasized the government’s concern over rising rents and unchecked agency charges in the property market.
“The public is calling out for relief, and we hear them,” Akinderu-Fatai said. “The real estate sector must align with the realities of the people. No rent should be collected beyond one year in advance, and agency fees must stay within the limits of the law—no more than 10%.”
The commissioner warned against the activities of unlicensed agents and urged professional bodies to root out impostors who exploit property owners and tenants alike.
He also urged ERCAN to lead advocacy for rent flexibility within its membership, adding that “monthly and quarterly payments will ease financial pressure on tenants, ensure consistent income for landlords, and create a healthier, more transparent rental market.”
ERCAN’s President, Mr. Godwin Aleke, welcomed the initiative, pledging the association’s support. “We are committed to making housing more affordable and will collaborate with other professional bodies to clean up the system,” he said.
The meeting is one of several stakeholder engagements by the Ministry of Housing aimed at curbing arbitrary rent increases and unregulated service fees in Lagos.
Also in attendance were the Permanent Secretary, Ministry of Housing, Engr. Abdulhafis Toriola, and senior ministry officials.
